Permitted Redemptions means the Redemption by PPT and Borrower of Stock issued by PPT or Borrower not to exceed $250,000,000 in the aggregate during the term of this Agreement, provided that no Default exists or would result from such Redemption.

Permitted Redemptions to read in their entireties as follows:

Permitted Redemptions means repurchase and redemption of shares of stock of PLI, provided that: (a) no Default or Event of Default has occurred and continued at the time of such repurchase and redemption; and (b) the aggregate purchase price of all shares repurchased or redeemed shall not exceed $1,000,000 from June 30, 2005 through the Maturity Date, if (i) such repurchase and redemption is conducted in accordance with the redemption program approved by the Board of Directors of PLI; and (ii) proceeds of the Advances hereunder shall not be used to fund any of such repurchase and redemption.

Examples of Permitted Redemptions in a sentence

Borrower shall not, and shall not permit any Company to, declare, make, or pay any Redemptions (net of the amount of any Net Proceeds from the resale of Stock previously redeemed pursuant to a Permitted Redemption) other than Permitted Redemptions.
As of any date, the Tangible Net Worth to be less than (a) $1,000,000,000, plus (b) eighty percent (80%) of the amount of Net Proceeds of any Equity Issuances subsequent to the Closing Date, minus (c) eighty percent (80%) of the amount of any Permitted Redemptions subsequent to the Closing Date.
All Permitted Redemptions and Mandatory Redemptions pursuant to this Section 5, shall be made on a pro-rata basis together with all Permitted Redemptions and Mandatory Redemptions under the Other Debentures.
Notwithstanding the foregoing, the Corporation may (i) effect Permitted Redemptions pursuant to Section A.5; and (ii) may redeem shares of capital stock of or equity interests in any wholly-owned Subsidiary.
Notwithstanding the foregoing, the Corporation may (i) effect Permitted Redemptions pursuant to Section A.5, and (ii) redeem shares of capital stock of or equity interests in any wholly-owned Subsidiary.

More Definitions of Permitted Redemptions

Permitted Redemptions means an aggregate total of Three Hundred and Twenty-Five Thousand Dollars ($325,000) in redemptions, fees and payments by the Borrower to Investors under the Securities Purchase Agreement.

Permitted Redemptions means the Redemption by the Trust of its Stock and the Redemption by the Partnership of its Stock for aggregate cash in an amount not to exceed in any calendar year THE LESSER OF (a) ninety percent (90%) of Adjusted FFO, and (b) one hundred percent (100%) of Adjusted CAD.

Permitted Redemptions redemptions pursuant to Section 3(a), Section 3(b), and Section 4(a) of the Certificate of Designations of the Borrower's Series B Convertible Preferred Stock, so long as there is no Event of Default that has occurred and is continuing, provided, however, that the aggregate amount of Permitted Redemptions shall not exceed $17,000,000.

Permitted Redemptions contained in Section 1.1 of the Credit Agreement are amended to read in their entireties as follows:

Permitted Redemptions means repurchase and redemption of shares of stock of PLI, provided that: (a) no Default or Event of Default has occurred and continued at the time of such repurchase and redemption; (b) except as permitted under (c) below, the number of repurchased and redeemed shares shall not exceed the number of shares of PLI issued to employees and officers of PLI, and the aggregate purchase price of all such shares repurchased or redeemed shall not exceed $2,000,000 per fiscal year, and (c) aggregate purchase price of all shares repurchased or redeemed may exceed $2,000,000 per fiscal year but shall not exceed $3,500,000 in the aggregate after October 31, 2002, if (i) such repurchase and redemption is conducted in accordance with the redemption program approved by the Board of Directors of PLI; (ii) proceeds of the Advances hereunder shall not be used to fund any of such repurchase and redemption; and (iii) at the time of all such repurchases and redemptions, before and after giving effect thereto PLI shall own assets consisting of cash, bank deposits, certificates of deposit and other cash equivalent assets acceptable to the Agent in amounts not less than $25,000,000.